Chennai Video
Latest Buzz...
Flash News
47th International Film Festival of India
The 47th International Film Festival of India will begin...
Apple CEO Mr Tim called on Mr Modi today
The CEO of Apple Inc., Mr. Tim Cook, called...
Bank employees to go on strike on July 29
Bank employees across the country will go on a...
Cyclone moves towards Bangladesh
Cyclonic winds bypassed the Indian coast and moved towards...
Summer Special Trains
Southern Railway will operate the following Suvidha special trains...

February 22nd, 2012
India will be able to sail through slow down phase – FM

Finance Minister Pranab Mukherjee has said that the high interest rates, coupled with adverse global situation, are impacting investment and economic growth. He said, in a globalised world, where major developed economies are going through a turbulent time, growth cannot be taken for granted.

Mr Mukherjee, however, said that the slowdown should be a temporary phenomenon and the country will be able to sail through tough times and get back on the high growth path. He was addressing the the annual general meeting of Assocham in New Delhi yesterday.

The 2011-12 economic growth is estimated to slip to a three-year low of 6.9 per cent from 8.4 per cent a year ago. India was growing at over 9 per cent before the global financial crisis of 2008 pulled down its growth rate to 6.7 per cent in 2008-09.

On opening up the retail sector, the Finance Minister said, the government has liberalised FDI in single brand retail and a consensus for operationalise the decision on opening FDI in multi-brand retail is being pursued. – Courtesy National Portal of India